DMP Mutual Support Thread - Part 12

Walaboobah

I have just paid my final instalment off my DMP and am now Debt Free. It's taken around 5.5 years to pay off the £29k that was owed.

My personal journey was eventful but I didn't have much issue with my creditors aside from Standard Letters and one debt being sold to Link Financial. Aside from one account where interest was charged for some of the time, all of the others froze the interest payments at the time we took out the DMP, so I guess we were very lucky.

I would like to say to those starting out on your DMP journey and those midway through it to stick at it, it will take time, it may not seem like you are much inroad into the debt but with each payment your debt comes down and eventually you will pay it off.

Set your self targets, if you owe £20k, set a target of £15k then have a little treat, celebrate when the debt comes down to 4 figures, when it comes down to 3 figures etc.

You will get there, be strong and if you need help, ask for it.

Walaboobah

IANB77 wrote: »

Juts my pride and the feeling of failure if honest... I have emailed most creditors so didnt need to speak over the phone. Just worry about getting all the phone calls etc, when my 30 day grace period is up. _pale_.

I never received a single phone call in over 5 years, you get the occasional letter, Halifax were the worse ones, as I had to ring them every 6 months as they threatened to charge an overdraft fee but a quick call and interest was suspended again for 6 months.

Barclays or MBNA I had no issues with whatsoever

System

Walaboobah wrote: »

I have just paid my final instalment off my DMP and am now Debt Free. It's taken around 5.5 years to pay off the £29k that was owed.

My personal journey was eventful but I didn't have much issue with my creditors aside from Standard Letters and one debt being sold to Link Financial. Aside from one account where interest was charged for some of the time, all of the others froze the interest payments at the time we took out the DMP, so I guess we were very lucky.

I would like to say to those starting out on your DMP journey and those midway through it to stick at it, it will take time, it may not seem like you are much inroad into the debt but with each payment your debt comes down and eventually you will pay it off.

Set your self targets, if you owe £20k, set a target of £15k then have a little treat, celebrate when the debt comes down to 4 figures, when it comes down to 3 figures etc.

You will get there, be strong and if you need help, ask for it.

Ooh well done. So pleased for you.....and you managed it so quickly.:beer::beer::beer::T:T

Walaboobah

ploppy57 wrote: »

Ooh well done. So pleased for you.....and you managed it so quickly.:beer::beer::beer::T:T

Thanks, yes slipped by a couple of months from original DFD but very pleased it's now done. The worse thing about paying it off relatively quickly is there are still some defaults on my credit file.

The last one will be gone August 2019 so around 18 months before those red markers disappear!

System

Walaboobah wrote: »

Thanks, yes slipped by a couple of months from original DFD but very pleased it's now done. The worse thing about paying it off relatively quickly is there are still some defaults on my credit file.

The last one will be gone August 2019 so around 18 months before those red markers disappear!

That's one thing we won't have to worry about....lol. Our defaults will all be dropped off by 2021/22 and can't see us paying the DMP off by then.

Walaboobah

ploppy57 wrote: »

That's one thing we won't have to worry about....lol. Our defaults will all be dropped off by 2021/22 and can't see us paying the DMP off by then.

You'll get there believe me!

sourcrates

Anyone on a DMP interested in sharing there experience with the money advice service :

http://forums.moneysavingexpert.com/showthread.php?t=5797968

LadyMorticia

Hey guys.

Should I be concerned that my Littlewoods debt isn't on my credit report? I know the debt is going to be written off as a goodwill gesture soon, but it's for £5000-odd and it hasn't been listed on my credit report for months (not sure it's ever been on there, to be honest!)

Should I just leave it or query it?

January2015

LadyMorticia wrote: »

Hey guys.

Should I be concerned that my Littlewoods debt isn't on my credit report? I know the debt is going to be written off as a goodwill gesture soon, but it's for £5000-odd and it hasn't been listed on my credit report for months (not sure it's ever been on there, to be honest!)

Should I just leave it or query it?

I'd leave it. Could it be that it defaulted as long ago as 2011/12?

Seriously, I only chase items on my credit report that appear more than once or (not that is has happened) that are not mine.

[Deleted User]

Walaboobah wrote: »

I have just paid my final instalment off my DMP and am now Debt Free. It's taken around 5.5 years to pay off the £29k that was owed.

My personal journey was eventful but I didn't have much issue with my creditors aside from Standard Letters and one debt being sold to Link Financial. Aside from one account where interest was charged for some of the time, all of the others froze the interest payments at the time we took out the DMP, so I guess we were very lucky.

I would like to say to those starting out on your DMP journey and those midway through it to stick at it, it will take time, it may not seem like you are much inroad into the debt but with each payment your debt comes down and eventually you will pay it off.

Set your self targets, if you owe £20k, set a target of £15k then have a little treat, celebrate when the debt comes down to 4 figures, when it comes down to 3 figures etc.

You will get there, be strong and if you need help, ask for it.

Congratulations:T:T! Great news:j:dance:_party_


Thanks for coming on here and posting about it:T. Happy endings are always such a help and encouragement to others especially those at the start of what seems like an endless DMP journey or those mid-stream who are having a bit of a wobble.


Good luck and happiness in your new debt-free life:beer: